Bar Harbor Wealth Management cut its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 4.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,839 shares of the information services provider’s stock after selling 1,333 shares during the period. Bar Harbor Wealth Management’s holdings in Alphabet were worth $2,999,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Corrado Advisors LLC purchased a new position in Alphabet in the fourth quarter valued at about $27,000. Gould Capital LLC grew its position in shares of Alphabet by 2,150.0% in the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 301 shares during the last quarter. My Personal CFO LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $34,000. Milestone Wealth LLC grew its position in shares of Alphabet by 1,900.0% in the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 361 shares during the last quarter. Finally, Lowe Wealth Advisors LLC grew its position in shares of Alphabet by 187.5% in the fourth quarter. Lowe Wealth Advisors LLC now owns 460 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 300 shares during the last quarter. 27.17% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Alphabet stock opened at $116.87 on Tuesday. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $129.55. The company has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 1.54 and a beta of 1.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. The firm’s fifty day moving average price is $120.39 and its 200 day moving average price is $105.99.
Insiders Place Their Bets
In other news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $105.04, for a total transaction of $3,939,000.00. Following the sale, the director now directly owns 107,240 shares in the company, valued at approximately $11,264,489.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the sale, the chief accounting officer now owns 25,937 shares in the company, valued at $2,788,486.87. The disclosure for this sale can be found here. Insiders sold a total of 832,682 shares of company stock valued at $26,077,123 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on GOOG shares. Oppenheimer lowered their price target on shares of Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Robert W. Baird increased their price target on shares of Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. 92 Resources reiterated a “downgrade” rating on shares of Alphabet in a research report on Monday, June 26th. Raymond James raised their target price on shares of Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Finally, UBS Group raised their target price on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.77.
About Alphabet
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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